FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says

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The company says it paid billions to executives including founder Sam Bankman-Fried before filing for bankruptcy last year.

The estate of bankrupt FTX has marshalled around $7 billion in assets, including $1.16 billion in solana (SOL) tokens and $560 million in bitcoin (BTC), according to a Monday court filing.

The presentation details billions in payments the company – previously one of the world’s biggest crypto exchanges – made to senior executives including founder Sam Bankman-Fried, before it filed for bankruptcy in November.

The company collapsed after CoinDesk published revelations concerning the state of its balance sheet last year. New CEO John J. Ray III has berated financial controls at the company, while Bankman-Fried has pleaded not guilty to multiple fraud charges, with a trial due to start next month.

The company has secured $1.5 billion in cash in addition to the $1.1 billion it held on Nov. 11, and also holds $3.4 billion in crypto as valued at Aug. 31, the document said. That’s in addition to hundreds of millions of dollars worth of over 1,300 lesser known and potentially less liquid tokens such as MAPS and serum (SRM).

The presentation also details $2.2 billion in cash, crypto, equity and real estate received by Bankman-Fried and other executives, including Nishad Singh, Zixiao “Gary” Wang and Caroline Ellison, in the months leading up to the bankruptcy. That may be significant because U.S. law allows such payments to be clawed back and added to the stock of assets that can be distributed to creditors.

The filing also reports 38 condos, penthouses and other properties in the Bahamas with an estimated value of around $200 million. The company’s new management has attempted to reclaim funds made as donations to politicians and charitable organizations such as the Metropolitan Museum of Art in New York.

FTX has asked a New York judge for permission to start selling off its crypto holdings, so that it can return funds to creditors in cash.

The Treasures of St. Petersburg Are Waiting for Tourists from Vietnam

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St. Petersburg, one of the most beautiful cities in Russia, is full of treasures and unique landmarks that await tourists from Vietnam. St. Petersburg, namely Pulkovo Airport, is actively negotiating direct flights with Vietnam for the mutual growth of tourist flow and the development of business contacts.

This year St. Petersburg celebrates the 320th anniversary of its foundation. Peter the Great, built a new capital of the empire based on the best aspects of European culture. St. Petersburg is a museum-like city. The historical center of the city contains architectural monuments of three centuries from the Petrovsky Baroque to the Northern Art Nouveau. Tourists from all over the world come to St. Petersburg to see the fascinating architecture, romance and inspiration of drawbridges and white nights.

In St. Petersburg, one can not only enjoy the beautiful views, but also experience the historical center, where many of the objects are included in the UNESCO heritage list and have great value. There are more than 200 museums in St. Petersburg. The most prominent are the Russian Museum, the Kunstkamera and, of course, the State Hermitage museum, where about three million works of art and monuments of world culture are stored. The city on the Neva has always been one of the world’s main centers of cultural enlightenment.

Arriving in St. Petersburg, tourists can not only experience the cultural heritage of the city with a century-old history, but also begin to get acquainted with other tourist crown jewels of Russia. Such an opportunity is provided by tourism projects. For instance, the interregional tourism project “Silver Necklace of Russia” unites historical cities, provincial centers, natural objects, sights and monuments in 11 regions of the North-Western Federal District of Russia. These are more than 170 tourist routes that pass through the territory of 60 cities of the former Novgorod Principality. Tourists will see the beauty and uniqueness of the Polar Lights, the heritage of wooden architecture, imperial palaces and museum exhibits of the northern regions. The joint project of the tourism committees of Moscow and St. Petersburg “Two Cities – a Million Impressions” will allow to get into the flavor of the two capitals.

Tourists from Vietnam can not only get acquainted with the Northern Capital and its fascinating sights, but also enjoy the unique atmosphere of the city, feeling like a native of St. Petersburg. The cultural heritage of the city, unique flavor and hospitality will meet the interest of every guest, which will allow to experience a lot of unforgettable emotions.

Rediscovering Classic Favorites and Nostalgic Games

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The advanced graphics, immersive virtual reality, and cutting-edge technology used in gaming nowadays increase the activity’s thrill and excitement. However, these can also make it easy to forget the early video games that brought great fun and imagination to many childhoods. In different areas, the world goes back in time to revisit the classic favorites that have shaped the gaming industry as we know it today. Unlike the advanced mechanisms most recent action-adventure and https://vulkanvegas.com/vi games employ, their allure is in their simple charm and ability to evoke childhood memories. This article explores the joy of rediscovering classic favorites, highlighting their continued impact on the gaming community and popular culture.

Reasons to Rediscover Classic Favorites

Playing games from another era can provide a glimpse of what life used to be like for ourselves or others. Below are some reasons to rediscover classic favorites:

Timeless Appeal

Classic games are designed with a unique charm that enables them to transcend generations. From the pixelated graphics of arcade games to the block landscapes of retro consoles, they represent an earlier era of innovation and general innocence. Some of these titles have now become iconic, such as Tetris, Super Mario Bros., and Pac-Man. They remain beloved by veterans and new gamers and have been adapted for use in different movies, books, and songs, which have enabled them to influence popular culture. With their simplicity and intuitive mechanics, players can enjoy an experience that is both challenging and rewarding.

A Trip to the Past

The grip of nostalgia is one of the biggest reasons for the longevity and popularity of nostalgic gaming. Firing up your old console or loading an emulator to play a classic title can transport you back to an earlier time when life was simpler. For some, this can bring up the memories of the excitement of unlocking new levels or the satisfaction of defeating a particularly challenging boss. Others reminisce on times spent with friends huddled around the only screen available. This nostalgia connects the past and the present, allowing past gamers to relive cherished memories while enjoying the advancements in gaming technology.

Preserving Gaming History

Asides from delighting gamers, rediscovering classic favorites also plays a vital role in preserving gaming history.

They represent the humble beginnings of an industry that has evolved exponentially through time. By revisiting and celebrating them, the contributions of pioneers and designers who laid the foundation for modern gaming are acknowledged. This will also ensure that gaming artifacts are not lost to time.

Impact of Classic Games on Modern Titles

Classic games have had an unmistakable influence on modern titles. This is probably because most game developers and designers grew up playing the same titles that continue to inspire their work today. The important thing is that the industry pays homage to the timeless designs that have left an indelible print on the gaming community.

The Rise of Retro Gaming Culture

Nostalgic gaming has introduced a trendy and thriving retro culture. This community continues to grow, with conventions dedicated to classic games and online forums where enthusiasts share tips and memories. From RPGs to platformers, various elements from earlier games keep finding their way into newer creations. Even the recent resurgence of pixel art and 8-bit style games demonstrates the inspiration developers draw from retro aesthetics and gameplay mechanics. The popularity of this culture has led to the release of “mini” versions of classic consoles loaded with iconic games. This way, nostalgia is further cemented in a section of the modern gaming landscape.

Bridging the Generational Gap

Nostalgic gaming is a way for different generations to find a mutual common ground to connect. Some parents enjoyed growing up playing several classic games. Now, they can easily share these experiences with their children, reliving old memories while creating new ones together. An older generation introducing their childhood games to the younger one tends to create a sense of shared history and connection. Through the interaction this provides, classic favorites can gain new life. They can appeal to a younger audience while retaining their significance for older gamers.

Conclusion

Nostalgic gaming offers an adventure through time, allowing the older gaming generation to rediscover the joy of playing favorites from childhood. Their timeless appeal and continued impact on modern titles ensure they remain relevant in a world of evolving technological trends. Asides from the entertainment they provide, rediscovering these classics helps to connect generations of gamers and foster a vibrant retro gaming culture while preserving its history. It is crucial to remember the titles that started it all while enjoying recent advancements in gaming technology. As long as appreciation for these foundational concepts exists, their legacy can endure for more generations to come.

Quang Nam: First hotel declares no more plastic waste

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On September 9th, Silk Sense Hoi An River Resort in Hoi An City, Quang Nam Province, announced that it is now a plastic-free and single-use plastic-free hotel, with no waste or plastic pollution released into the environment.

Personal items – amenities made of bamboo and wood used at Silk Sense help reduce plastic waste. Photo: Quynh Nhu

Mr. Tran Thai Do, the Chairman of Silk Sense Hoi An River Resort, stated that the establishment had set specific criteria and solutions for various waste-related issues and implemented them cohesively to ensure the complete elimination of plastic waste at the hotel.

The criteria for the plastic-free hotel at Silk Sense Resort were based on reference standards from Quang Nam Province’s green tourism criteria, Travelife’s criteria, as well as guidance from SSTP (Sustainable Swiss Tourism Program) and the guidelines of the Vietnam Tourism Association. Additionally, Silk Sense Resort’s criteria were developed based on the practical needs of the hotel.

As reported, Silk Sense Resort utilizes a central variable refrigerant flow air conditioning system and produces hot water to save electricity. The resort also features a saltwater pool that does not contain chlorine and uses glass bottles for Kangen water (alkaline ionized water) instead of plastic bottles.

The Green Cups project with the message “Disposable cups are not trash” helps extend the life of disposable paper and plastic cups. These cups are used to grow trees and vegetables which are then distributed free to the community. Photo: Quynh Nhu

Furthermore, waste from the kitchen and excess food will be sorted and processed. Organic waste will be repurposed into organic fertilizer using the Waste2Green organic waste recycling machine.

In addition, the resort extends the lifespan of single-use paper and plastic cups through the Green Cups project, which encourages using these cups for planting with the message “A single-use cup is not yet waste,” according to Mr. Do.

During the announcement event, Mr. Vu The Binh, Chairman of the Vietnam Tourism Association, shared that being a plastic-free hotel is a concrete action taken by the business, with significance in spreading the message to the business community in the tourism industry not only in Hoi An but throughout the country, promoting sustainable tourism development in Vietnam.

@Thesaigontimes

25,000 visitors, 9,025 trade appointments after Ho Chi Minh City International Travel Expo

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The International Travel Expo Ho Chi Minh City (ITE HCMC) 2023 has attracted more than 25,000 visitors and 9,025 business appointments, helping travel businesses expand their market.

The Ho Chi Minh City Department of Tourism stated that after 3 days of organization (from September 7th to 9th), the ITE HCMC 2023 attracted international buyers from 42 countries and territories, which are key inbound tourism markets and potential markets for Vietnam’s tourism.

The expo recorded over 25,000 visitors and 9,025 B2B business appointments (direct transactions between businesses).

ITE HCMC 2023 continues to be the only international tourism event in Vietnam with an International Buyer program

According to the Ho Chi Minh City Department of Tourism, ITE HCMC 2023 has demonstrated efforts to expand the market share of international tourists to Vietnam and make breakthroughs in tourism promotion. Ho Chi Minh City also affirmed its role as a gateway for trade, connecting Vietnamese tourism businesses, countries downstream of the Mekong River with traditional and potential markets in the region and the world.

As part of the event, 14 forums and specialized workshops were held on topics of social and global interest, such as the high-level tourism forum “Digital Transformation to Drive Tourism Development,” the tourism and hotel industry workshop in Vietnam, the specialized workshop “Marketing and Communication Strategies to Attract International Visitors,” and the “Medical Tourism: Trends Worldwide and in Vietnam” workshop by Ho Chi Minh City Tourism Magazine.

On the final day of the expo, the public consumer fair saw a two to threefold increase in visitor numbers compared to the opening day. To stimulate travel shopping, travel companies, restaurants, hotels, services, and airlines offered discounts of up to 50%.

Representatives from Saigontourist Travel Agency noted that ITE HCMC 2023 provided an excellent opportunity to explore new markets, establish relationships, and grasp tourism trends in countries within the region and worldwide. They introduced a range of exceptional tour products for international tourists, featuring carefully curated itineraries that highlight Vietnam’s rich cultural, historical, and traditional values, as well as offerings in Cambodia, Laos, and Myanmar. These tours included traditional tourism, festival tourism, culinary experiences, island and cruise tours, eco-tourism, exploration tours, MICE tourism, and golf tourism.

Ho Chi Minh City International Tourism Fair takes place during the peak tourist season in the fall

Vietravel representatives also reported that their booth at the expo attracted over 2,140 visitors and hosted 160 meetings with foreign partners and buyers during the three-day exhibition. The expo took place during the peak autumn tourism season, prompting many customers to visit the booth to register for autumn tours and receive a VND 1 million discount, as well as practical and convenient gifts from foreign travel companies and organizations. Various autumn foliage tours to destinations like South Korea, Japan, Taiwan, Europe, and the Americas garnered considerable interest from customers, indicating higher demand for autumn tourism compared to the previous year.

@Thanhnien.vn

Be drivers supported in switching to VinFast electric vehicles

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Be Group collaborates with VinFast and Cake by VPBank to support drivers in transitioning to electric vehicles.

Be has recently entered into a partnership with VinFast and the digital bank Cake by VPBank to assist beBike (motorcycle) drivers in switching from gasoline to electric vehicles.

According to the agreement, VinFast will provide support to Be drivers in transitioning from gasoline motorcycles to the VinFast Feliz S electric motorcycle with a special discount of 4% per vehicle on the listed price during the initial phase of the collaboration.

Cake by VPBank, the digital bank, will also offer modern financial solutions for Be drivers looking to purchase the VinFast Feliz S electric motorcycle with favorable interest rates starting from 0%. The entire loan application process and approval results will be conducted entirely online, without the need to visit a bank branch.

The VinFast Feliz S is an electric motorcycle capable of traveling 198 km on a single full charge, and it can withstand water submersion of up to 0.5 meters for 30 minutes, making it suitable for the job requirements of technology-driven motorcycle taxi drivers.

Ms. Vu Hoang Yen, CEO of Be Group, shared, “After the initial phase of cooperation with our GSM partner, we have seen many positive signals and results, notably a continuous growth in the number of electric taxi trips, now accounting for 6% of the total rides on the Be platform each month (higher than the 5% of some other ride-hailing technology platforms). Be aims to further accelerate the realization of a larger goal, which is to promote the adoption of green transportation habits among Be drivers and to foster the development of green transportation nationwide.”

Be Group believes that the electric motorcycle market, in particular, and clean energy vehicles in general, in Vietnam show significant development potential. This is especially true after the government set a target to achieve net-zero emissions by 2050.

According to data from the Ministry of Industry and Trade, the sales of electric motorcycles in Vietnam have increased by approximately 30-35% in recent years, making Vietnam the largest electric motorcycle market in ASEAN and the second largest in the world, following China.

@Cafef

International tourism fair in Can Tho anticipates welcoming 20,000 visitors

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The Vietnam International Travel Mart – VITM Can Tho 2023 is scheduled to take place in early December. Preparations are currently underway for this major event, expected to welcome approximately 20,000 to 30,000 visitors.

According to information from the Department of Culture, Sports, and Tourism of Can Tho City, the Vietnam International Travel Mart – VITM Can Tho 2023 will be held locally for three days, from December 1st to 3rd, 2023.

The organizers aim to boost the recovery and accelerate the development of tourism with VITM Can Tho 2023. There will be 350 booths representing businesses from 40 provinces and cities across Vietnam and 10 international countries. The event is expected to attract 20,000 to 30,000 visitors who will come to work, explore, and shop.

Under the theme “Ecotourism – The Mekong Delta,” VITM aims to promote diverse and unique ecological tourism resources in Can Tho and the Mekong Delta as a whole.

This international event is organized by the Vietnam Tourism Association in collaboration with the Department of Culture, Sports, and Tourism of Can Tho City, the Mekong Delta Tourism Association, and the Can Tho Tourism Association.

Ms. Dao Thi Thanh Thuy, Deputy Director of the Department of Culture, Sports, and Tourism of Can Tho City, mentioned that the city has nearly 640 lodging establishments with over 11,000 rooms. However, the number of domestic and international guests staying in the province is still relatively low. Therefore, through the trade fair, local authorities hope to attract more businesses for commercial promotion and encourage more tourists to choose Can Tho and the Mekong Delta for sightseeing and experiences.

In addition, VITM Can Tho 2023 will feature business promotion activities with around 2,000 Vietnamese and international enterprises participating over three days. It will also bring together 120 travel companies, including 60 international companies from countries such as France, Japan, South Korea, the Philippines, Indonesia, as well as 60 leading Vietnamese companies.

The fair will also host various meetings between business partners (B2B), businesses and consumers (B2C), and two survey teams will visit prominent tourist destinations in the Mekong Delta region. Through these activities, businesses will assess tourism products, service quality, and develop suitable programs to promote and market their products to tourists.

Can Tho City organizes a major international tourism event in early December 2023. (Photo: Linh Trang)

Before this, the 17th International Travel Expo Ho Chi Minh City 2023 (ITE HCMC 2023) was inaugurated on the morning of September 7th. ITE HCMC also aims to promote the growth of the international tourist market to Vietnam, increase the flow of tourists between countries, and optimize tourism income by connecting trade between Vietnamese tourism businesses and businesses from countries along the Mekong River and traditional markets, as well as potential markets in the region and the world.

ITE HCMC 2023 attracted more than 400 exhibition booths and brands, including national and local tourism promotion agencies, tourism associations, research institutes, travel agencies, lodging facilities, airlines, and transportation companies. Additionally, 199 international buyers from 42 countries and territories attended the event.

@Vietnamnet

 

Ho Chi Minh City hosts weekly concerts in front of City Theater

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Starting from September 9th, in front of the City Theater, there will be a weekly Saturday morning concert.

The Performing Arts and Cinema Center of Ho Chi Minh City, in collaboration with Sweden Auto, will organize a concert program in front of the City Theater every Saturday morning at 8 o’clock, from September until the end of 2023. In addition, on Sunday, September 10th, there will be a program promoting traditional Vietnamese music titled “Autumn and Forever.”

Visitors will have the opportunity to enjoy a concert in the center of Ho Chi Minh City every Saturday morning

The City Theater is a versatile theater with over 120 years of history, located in the center of Ho Chi Minh City, featuring typical French architecture from the late 19th century. It is also a familiar destination for international tourists visiting Ho Chi Minh City.

The City Theater has long been an ideal weekend rendezvous not only for city residents but also for both domestic and international tourists. If city dwellers and tourists are seeking a place to experience unique and remarkable music, this is the perfect destination.

The Saturday music program is a musical event featuring timeless melodies from Northern Europe from the 1970s to the 21st century. The harmony of music will immerse the audience in a diverse world over 18 exciting weeks, with each week representing a special decade of music. The program lasts for about 1 hour and 30 minutes and includes 15 performances.

Furthermore, the “Autumn and Forever” program with the theme “Love Songs for the Homeland” features outstanding songs by famous composers such as Tran Long An, Nguyen Tan Kiet, Ton That Lap, and La Huu Vang, including works like “A Time of Youth,” “City March,” “Trust in the Song,” “Red Night,” “Homeland, We Have Heard”… The program also pays tribute to Ho Chi Minh City through songs like “Song of Southern Youth Unity,” “Unity Song,” “Rising Flames,” “Vietnam, Oh Vietnam”…

@Thanhnien.vn

Binh Duong celebrates 50 years of diplomatic relations between Vietnam and Japan with a fireworks show

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As part of the “Meet Japan 2023” Program, a dazzling display of 150 low-range fireworks will take place at Hung Vuong Street, Hoa Phu Ward, Thu Dau Mot City (New Binh Duong City) for 15 minutes. The location is conveniently located about 500m away from the Provincial Administration Center. The initial plan was to hold the fireworks display at the Roundabout – New Binh Duong City. All preparation work has been completed, and the fireworks are scheduled for 9 p.m. today, September 8.

Binh Duong held fireworks at Lot C11 – Hung Vuong Street, Phu Hoa ward.

This event is a joint effort by the People’s Committee of Binh Duong Province, the Ministry of Foreign Affairs, and the government of Yamaguchi Prefecture (Japan) to commemorate 50 years of diplomatic relations between Vietnam and Japan (September 21, 1973 – September 21, 2023).

As part of the “Meet Japan 2023” initiative, Binh Duong intends to engage in talks with Japanese businesses and partners, provide investment certificates, and offer construction permits to Japanese enterprises in the region. Furthermore, the event will feature a range of cultural exchange programs and investment promotion activities, such as “Binh Duong Women with Japanese Culture” and conferences that connect the supply and demand of goods. The Industry and Trade Fair of the Southeast region will also take place during this event, showcasing the region’s potential for growth and development.

@vtv.vn

Crypto Firm LBRY to Challenge Ruling It Violated U.S. Securities Law

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The blockchain-based file-sharing network had indicated it would be winding down after a New Hampshire court ruled in favor of the SEC last November.

Crypto startup LBRY filed its intent to appeal a New Hampshire court’s decision that it failed to register with the U.S. Securities and Exchange Commission (SEC).

The SEC filed suit in 2022 alleging the blockchain-based file-sharing network had violated federal securities laws with the sale of its native LBRY credits (LBC), which the firm maintained were not securities. A New Hampshire judge ruled in favor of the SEC in November and the final ruling was filed on July 11. Following the ruling, LBRY said it would shut down.

Under the ruling, LBRY must pay a $111,614 penalty. That was revised down from $22 million in May by the regulator citing the company’s “near-defunct status.” The company was also “permanently restrained and enjoined from” participating, directly or indirectly, in violating federal securities laws or any unregistered crypto securities offering.

Blockchain platform Ripple Labs is facing similar SEC allegations over the sale of $1.3 billion in XRP tokens. Legal experts have told CoinDesk that a federal judge’s July ruling partially in favor of Ripple – that direct sales of XRP to institutional investors violated securities law, but programmatic sales to retail investors through exchanges had not – could give hope to other firms involved in similar cases.

LBRY shared its intension to fight the ruling on its X (formerly Twitter) account Thursday. LBC has dropped about 6% in the past 24 hours to $0.013, CoinGecko data shows.

U.S. Interest Rates High Enough to Tame Inflation, Avoid Recession: Chicago Fed

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Federal Reserve Bank of Chicago economists predict low inflation and a resilient economy, a potential goldilocks scenario for risk assets, including cryptocurrencies.

Economists at the Chicago Fed argue that rate increases implemented since March 2022 have set inflation on a path to 2% while ensuring soft landing for the economy.

Further tightening may not be needed, the economists say.
A recession-free return to that level of inflation might spur risk taking in global financial markets.

Risk assets, including cryptocurrencies, seem headed for a goldilocks moment as new research from economists at the Federal Reserve Bank of Chicago suggesting the U.S. central bank has raised interest rates high enough to cut inflation to its 2% target without sparking a recession.

In the September edition of the Chicago Fed Letter, Stefania D’Amico and Thomas King say their vector autoregression (VAR) model shows the 500 basis points of rate increases implemented since March 2022 have taken a substantial toll on output, and further hikes may not be necessary to bring prices under control. The so-called tightening cycle was partly responsible for last year’s crypto market crash.

“We estimate that although the majority of the effects on output and inflation have already occurred, the policy tightening that has already been implemented will exert further restraint in the quarters ahead, amounting to downward pressure of about 3 percentage points on the level of real gross domestic product (GDP) and 2.5 percentage points on the Consumer Price Index (CPI) level,” they noted. “The abatement of inflation occurs without a recession, as real GDP growth remains in positive territory throughout the projection.”

According to the model, the headline consumer price index will probably drop below 2.3% by mid-2024, which, according to the economists, equates to a 2% inflation rate as measured by the personal consumption expenditure (PCE) price index. The Fed has long maintained that that level is consistent with its mandate for maximum employment and price stability. D’Amico and King’s model does not signal rate cuts or outright liquidity easing ahead.

A combination of sliding inflation and a relatively resilient economy would mean a so-called goldilocks scenario, which is an ideal situation for risk-taking in global financial markets. Ever since the Fed began raising rates, markets have worried that the tightening would break something in the global economy, leading to another financial crash.

The forecast from D’Amico and King comes as worries that headline CPI, which has dropped to 3% from 9% in the past 12 months, might rebound, sparked by a renewed rally in oil and food prices amid signs of a trough in prices paid in manufacturing and service sectors. That has markets concerned the Fed may hold rates elevated for longer.

Several investment banks have predicted an end of the tightening cycle while maintaining that rates are likely to stay higher for longer than previously expected.

The Fed, however, has been wary of signaling an end of the rate-hike cycle. According to the VAR model, the Fed’s persistent explicit forward guidance has made expectations a more critical influence in reducing the time for rate increases to affect inflation and the economy.

“A strong expectations channel also means a more powerful monetary policy, so the estimated effects not only occur faster, but also are bigger than typically estimated,” the letter said. “This implies that the effects that are yet to come may still be big enough to bring inflation near target reasonably quickly.”

Vietnam wins many world travel awards in 2023

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Vietnam has received several prestigious awards in the tourism and aviation sectors. It has been recognized as “Asia’s Leading Destination” and “Asia’s Leading Nature Destination”. The Vietnam National Administration of Tourism has been awarded as Asia’s leading travel agency. Hanoi has been named “Asia’s Leading City Break Destination”, while Ho Chi Minh City has been honored as “Asia’s Leading Business Travel Destination” and “Asia’s Leading Event and Festival Destination”.

Ho Chi Minh City receives 2 WTA awards in 2023

Vietnam Airlines has also won four essential awards, including Asia’s Leading Cultural Airline, Asia’s Leading Cabin Crew, Asia’s Leading Airline – Economy Class, and In-Flight Magazines.

Additionally, Vietravel Airlines has been recognized as Asia’s leading airline for providing a good flight experience for tourists. Vietravel has also won in three categories for the 11th consecutive year, including Leading Tour Operator in Vietnam and Asia, and Leading Travel Agency in Vietnam.

Experts have noted that Vietnam’s tourism industry has great potential for regional and global development, thanks to its beautiful nature, long coastline, rich culture, and relaxed visa policy.

@vtv.vn

Apple Shifted 11 Production Facilities to Vietnam

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According to Mr. Nguyen Thang Vuong, Head of the European and American Markets Division (Ministry of Industry and Trade), Apple Inc. (USA) has relocated 11 factories for manufacturing audiovisual devices to Vietnam.

Mr. Vuong stated that in recent times, the trend of shifting global supply chains has been gaining significant momentum. Many large corporations have been seeking to expand their networks and develop manufacturing facilities in Vietnam.

A prime example of this trend is that to date, Apple Inc. from the USA has relocated 11 factories for manufacturing audiovisual devices to Vietnam. Intel Corporation has expanded its second-phase chip testing factory in Ho Chi Minh City, with a total investment of 4 billion USD. Lego Group from Denmark has invested in building a factory in Binh Duong with a total capital of 1 billion USD. Samsung Group has shifted its entire smartphone production line to Vietnam and India, with 60% of Samsung’s global smartphone production taking place in Vietnam.

Other major corporations such as Boeing, Google, and Walmart are also exploring investment and business opportunities in Vietnam, local media reported.

Apple is mass producing AirPods in Vietnam for the frist time. (Nikkei Montage/AP/Reuters)

Regarding this wave of investments, Sophie Dao, Senior Partner at Global Business Services LLC (GBS), one of the best investment consulting firm in Vietnam believes that this presents a significant opportunity for Vietnam to attract foreign direct investment (FDI) and promote economic development.

“However, it also poses a challenge for Vietnamese businesses participating in global supply chains, requiring them to improve product quality and enhance the production of supporting industrial products”, Sophie Dao added.

Currently, the majority of Vietnamese businesses involved in supply chains are in intermediary stages with low added value. Many key raw materials for production still need to be imported.

Opening night of Ho Chi Minh City International Travel Expo: Invitation to visitors to Vietnam

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On the evening of September 6th, the “Vietnamese Image” gala night marked the beginning of a series of activities at the Ho Chi Minh City International Travel Expo (ITE HCMC) to welcome nearly 800 delegates from domestic and international travel agencies.

Attending the gala event “Vietnamese Image” were Vice President Dang Thi Ngoc Thinh, Minister of Culture, Sports and Tourism Nguyen Van Hung, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai, along with delegates and businesses from 42 countries and territories.

In his opening speech, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai stated that the program is a warm invitation to tourists to come to Vietnam to admire its magnificent and beautiful nature, immerse themselves in its friendliness, explore its diverse and rich cultural heritage.

Impressive performances at the gala night

“Tonight’s program is also a greeting to our esteemed guests in Ho Chi Minh City—a city that values its traditional values and always looks towards the future, a vibrant, friendly, and enthusiastic destination; a city that harmoniously blends a dynamic and modern lifestyle with a rich, long-standing architectural and cultural heritage; a city where you can find cuisine from around the world alongside delicious Vietnamese dishes,” emphasized Mr. Phan Van Mai.

Southern cakes welcome guests to attend the event on the sidelines

With lively performances and elaborate stage productions, the gala night portrayed a modern, youthful Vietnam that still preserves its rich cultural identity and ancient traditions.

The 17th ITE HCMC takes place from September 7th to 9th, 2023, at the Saigon Exhibition and Convention Center (District 7, Ho Chi Minh City). It includes various specialized activities such as forums and large-scale seminars, such as the High-Level Tourism Forum “Digital Transformation Driving Tourism Development,” a tourism and hotel industry seminar – Vietnam’s resort industry – opportunities and challenges, as well as numerous promotional activities for tourism from Chile, South Korea, Japan, and more.

@Thanhnien.vn

Crypto Exchange Kraken’s UK Derivatives Unit Looking to Expands Its Service: Bloomberg

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The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.

Crypto Facilities, which was bought by cryptocurrency exchange Kraken in 2019, is in talks with the U.K.’s Financial Conduct Authority about expanding its service to custody a broader range of client assets, Bloomberg reported on Thursday.

The London-based firm, which offers futures contracts in crypto assets for institutional investors, is in talks to offer futures contracts denominated in the fiat currency it is holding for the client, CEO Mark Jennings told Bloomberg.

This would require an expansion of its multilateral trading license, which it acquired in 2020. Jennings said he expects this process to take between six and 12 months.

“It’s a key driver as we expand out what we do in the institutional market across crypto,” Jennings said.

The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.

“Prior to FTX we’d be hitting $700 million to $800 million a day” in trading volume, Jennings said. It is now closer to $100 million, he added.

The total volume in the crypto derivatives market fell to $1.62 trillion in August, a drop of over 12% from the month before and its second-lowest level since 2021, according to data provider CCData.

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